Business news from Ukraine

Business news from Ukraine

UKRAINE SUSPENDS TENDERS FOR SUPERVISORY BOARD OF STATE COMPANIES

5 June , 2022  

The Cabinet of Ministers has published a resolution on the suspension of competitions for the heads and members of the supervisory boards of state-owned companies during martial law, except for Ukrenergo, NJSC Naftogaz Ukrainy, Ukrhydroenergo, the Ukrainian Sea Ports Authority, Boryspil International Airport and Energoatom, as well as members of the supervisory boards of state-owned banks.
As evidenced by government resolution No. 643 of May 31 on the governmental portal, the Cabinet of Ministers allowed the use of “technical means of communication,” including telephone and video conferences, to hold competitions for the heads of supervisory boards in state-owned companies that are especially important for the economy during martial law.
At the same time, the government suspended competitions for managers, heads of executive bodies and members of state-owned companies, which were announced before martial law, the document says.
The resolution also allows to appoint without competition, in agreement with the Cabinet of Ministers, heads and members of supervisory boards in state-owned companies of strategic importance for the economy and security of the state, whose asset value according to the latest financial statements or whose annual net income exceeds UAH 200 million, as well as enterprises important for the economy with assets over UAH 2 billion or an annual net income over UAH 1.5 billion.
At the same time, the Cabinet of Ministers obliged the relevant subjects of government to hold competitions for the heads and members of the supervisory boards, who were appointed outside the competitive selection, within three months after the abolition or termination of martial law, the document says.

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